Client data is secure following security breach: Iress

14 May 2024
| By Keith Ford |
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In an ASX announcement on Monday morning, technology firm Iress said it “detected and contained” an unauthorised access of its user space on GitHub on Saturday.

GitHub is a third-party code repository platform that manages software code before it goes live in production on a separate platform.

The firm said that “Iress does not store client information on GitHub”.

“Iress restricted access to GitHub immediately upon discovery and commenced a rapid investigation,” it said.

“There is no evidence that client data has been compromised as a result of this issue. There is also no evidence that Iress’ production or client software has been compromised.”

Iress said it has commenced a process of “strengthening access and security protocols out of an abundance of caution”.

“We do not anticipate any disruption to our business or our clients’ ability to use our software and systems,” it said.

“Iress is making this announcement in the interests of transparency and keeping all stakeholders informed.

“The company takes information security extremely seriously and has notified relevant authorities.”

Late last year, the Australian Securities and Investments Commission (ASIC) urged Australian firms to address “significant gaps” in their cyber security and resilience.

The regulator’s call to action followed a spate of high-profile cyber attacks in Australia, including on port operator DP World.

ASIC said at the time that a recent survey involving 697 ASIC-regulated organisations said that 44 per cent do not manage third-party or supply chain risk and 58 per cent have limited or no capability to adequately protect confidential information.

“For all organisations, cyber security and cyber resilience must be a top priority. ASIC expects this to include oversight of cyber security risk throughout the organisation’s supply chain,” said ASIC chair Joe Longo.

“It was alarming that 44 per cent of participants are not managing third-party or supply chain risks. Third-party relationships provide threat actors with easy access to an organisation’s systems and networks.”

ASIC originally unveiled its cyber resilience survey in June to gauge organisations’ current cyber security and controls, governance arrangements, and incident preparedness. The regulator said that recent high-profile cyber incidents had highlighted the need for all organisations to have “robust cyber capabilities”.

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